US Yanks Waiver Allowing Iran Oil Sales After Attacks

On 7 July 2026 the United States revoked the waiver that had allowed sales of Iranian oil. Financial Times, Reuters and the New York Times tied the move to attacks on tankers, including LNG and oil tankers, in the Strait of Hormuz. TASS reported that the US also banned new transactions. Reuters described the revocation as a threat to a fragile truce after ships were attacked.

Oil prices jumped after the announcement, and the Wall Street Journal reported that Treasury yields rose as US-Iran tensions increased. Al Arabiya reported that oil rose 3% after the US military directed strikes against Iran.